Spring real estate market heats up in Toronto, Vancouver: realtors

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This article is called Spring real estate market heats up in Toronto, Vancouver: realtors. It was posted by Alexandra Posadzki and appeared on the CTV News website. It was published on March 10, 2015. This article discusses about an expectation that the spring real estate market will be hot in both cities this year. In Toronto, with the extreme cold temperatures you would think that the sales would be cooling down but instead the demand of homes continues to increase. There was a high competition between buyers due to active home listing that had dropped at the end of February by 8.7 per cent from a year ago. In February, Toronto home sales grew 11 per cent from a year ago. While in Vancouver sales were up 21 per cent in February compared to last year. In both cities the average price of a detached house is over $1 million. Also, the real estate markets will start to cool down once the interest rates begin to rise.
 
Reference:
 
Posadzki, A. (2015). Spring real estate market heats up in Toronto, Vancouver: realtors. Retrieved from CTV News: http://www.ctvnews.ca/business/spring-real-estate-market-heats-up-in-toronto-vancouver-realtors-1.2272418
 
 
 
 
 
 

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